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Well the expenditure in the current agreement is manageable with our cash resources. JLP carry costs to date (apart from our 700k drilling expenditure) but after we earn a 23% stake does this mean we will incur 23% of future costs?

Ok thanks that ties in with what I read on the JLP board posted by an AGM attendee (I may have misremembered 1400 rather than 400)

Me too but.. there is some confusion on this as I believe Leon said at the agm that the agreement with GLR only applied to the current 1400 hectare mining area. Does this contain the second reef? Please clarify CB

There goes crisp..starting the insults and wondering why the board gets disrupted.

Below..Courtesy of Mikesunday on JLP board. Looks like a genuine miscommunication..these things happen ..I respect JMK based on professional response to personal communication

Have just communicated with JMK. In his rush to get news out to shareholders, he timed the publication of results to the wire. He was expecting the relevant paperwork from the competent person to arrive yesterday, in time for the release today. Unfortunately the competent person is travelling and did not live up to his side of the bargain. Jon and his team were working past midnight to try and resolve the issue. I would imagine Jon is very upset and angry, because his primary aim is to improve communication and keep shareholders informed without delay. JMK is turning this company around. Whats a few days more.

They should have a competent person to manage their RNS release. Retraction after 24 hours? Not a good look.

Drilling results delayed

Hopefully GLR did some due diligence before embarking on this collaboration and have some projections of income and timescale. Hopefully they will also respond to recent requests for more transparency.

Courtesy of Illuvise68 on JLP board…

I'm told there are small delays with the external lab which is processing the results. they are overstretched with the amount of work at present. They have the results from in houser labs but these cannot be used by the competent person as the lab results are internal not 3rd party . This is necessary for JORC compliance.

Regarding Molefe..based upon JLP projections of production and the timetable to complete our drills, I hope GLR will be transparent in the next update and elaborate on the cash flow and timetable for the project.

Well amongst that verbal diarrhea and yet again misunderstanding of other shareholders views eventually we have something sensible…

“We only need to sell Kash^tu or one the other assets and Luansobe will have a plan to mine and we will multi bag.”

Exactly…we need to monetise one of these assets to make the realise the more promising assets otherwise we dilute the lot.

“ Nevertheless, they will need a large finance package and with a huge amount of warrants waiting to be exercised dilution will be massive. Shareholders are seeing through the dilution and CB has come good.

GLR! ANY SIMILARITIES. TICK, TICK TICK”

Are you seriously suggesting that shareholder will see GLR potentially diluting 10 assets to get one advanced as a good thing?

ERBIL, Kurdistan Region of Iraq – A top Iranian defense official on Friday warned Erbil that “all facilities” of the Kurdistan Region will be targeted if opposition groups are allowed to enter the borders of the Islamic Republic through the region.

"We would like to remind our friends and brothers in the Kurdistan Region of Iraq that so far only American and Israeli bases and separatist groups in the region have been targeted,” Ali Akbar Ahmadian, the representative of the late Supreme Leader Ayatollah Ali Khamenei to Iran’s defense council, stressed on Friday, as cited by the semi-official Mehr News Agency.

I think Crisp needs an enema first

Good points and questions, hope HQ are reading this and taking these on board.

Although the last RNS wasn’t the one we were hoping for (Luansobe), nevertheless it was a good RNS for many reasons..

1) It showed the project is advancing with speed

2) It actually gave a specific period for the start of the drill. To be fair it does say it is an aim, but nevertheless it is not complete vague which has been a past criticism , so it at least provides welcome guidance on timeframe.

3) As I understand the drill will complete the current collaboration agreement, but good results (maybe by Q4) may generate a solid long term agreement and unlock some value.

For balance, we should also remember that costs (excluding a management fee) are carried until drill is completed. We will thus face that bill towards the year end of I am not mistaken. Maybe it can get carried over into a subsequent agreement? All guesswork until management can provide clarity, but this likely a significant dent in our cash pile.

IGLR management should initiate that JL by sorting the governance/comms issues highlighted by Rodney and yourself in yesterdays post.

Quite agree Levi

Oh dear..Crisp is back to bait the board with his silly little insults. The thing is , if he believes his own statements that board sentiment is responsible for falling SP, Isn’t this baiting, childish name calling a little idiotic?

Yes our assets are in a good place fortunately. Sadly there is a wider market sell off, but not doubt Crisp and JL will cherry pick JL’s own post and attribute GLR share price drops to some “moaners” on this board.